Heartland Payment Systems, a payment processor and provider of business solutions, announced that it will be the first processor to distribute American Express Merchant Financing. Small businesses will have access to highly price-competitive alternative financing solutions and be able to obtain loans based on their annual card processing volume.

As small businesses across the country continue to recover from the recent recession, they face unique economic challenges and roadblocks. After several years of holding off on making any major expenditures, many small businesses are ready to make the necessary upgrades to their operations to increase their ability to attract new customers. However, many have realized that financing for their sector is not as readily available as it is for their larger counterparts.

American Express’ Merchant Financing is designed to provide immediate capital to finance short-term investments and be paid back over a 12-month period, avoiding long-term debt commitments. In contrast to traditional commercial lending vehicles, Merchant Financing provides convenient access to capital up to $750,000—enabling even more small business owners to finance their growth needs, stay competitive, and enhance their businesses. Additionally, Heartland clients will have the flexibility to renew their loans one year after the initial disbursement, which allows them to account for economic conditions and business performance before making additional capital investments.

“The core of our business is to deliver solutions that empower our clients to be competitive and profitable,” says Bob Carr, chairman and CEO of Heartland. “For nearly five years, small business owners have played defense trying to survive through the recession and now are beginning to feel optimistic about infusing new capital into their operations. With American Express’ Merchant Financing, small businesses will be able to obtain crucial financing to grow and compete with larger operations.”

“American Express has a long history of supporting small businesses and the launch of Merchant Financing for Heartland clients is a natural extension of that commitment,” says Pierric Beckert, executive vice president, Pricing & Business Development, American Express. “We are excited to work with Heartland to offer alternative financing options that will help small businesses meet their needs, grow their business, and be successful.”